Knowing That the Demand for Wheat Is Inelastic,if All Farmers

question 4

Multiple Choice

Knowing that the demand for wheat is inelastic,if all farmers voluntarily did not plant wheat on 10 percent of their land,then

• A)consumers of wheat would buy more wheat.
• B)wheat farmers would suffer a reduction in their total revenue.
• C)wheat farmers would experience an increase in their total revenue.
• D)the demand for wheat would decrease.

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Definitions:

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